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{\title RELEASE BY CREDITORS UNDER COMPOSITION SCHEME}{\author LEGAL}{\keywords creditor debtor release composition hereby }
{\doccomm Release by Creditors under Composition Scheme\'0dSigned, sealed and delivered by XY the debtor in the presence of:\'0dclaims and to forego, release and discharge the balance on terms and conditions hereinafter appearing. Signed, sealed and d
elivered by AB, CD, }{\operator LEGAL}{\creatim\yr2005\mo4\dy7\hr14\min51}{\revtim\yr2005\mo5\dy1\hr23\min37}{\version2}{\edmins1}{\nofpages1}{\nofwords400}{\nofchars2284}{\nofcharsws2679}{\vern16437}}
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\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\i\fs28\insrsid6584001\charrsid6584001 Release by Creditors under Composition Scheme}{\i\fs28\insrsid13723511\charrsid6584001
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid6584001 {\fs24\insrsid6584001
\par }{\fs24\insrsid13723511\charrsid6584001 This deed of release is made this}{\fs24\insrsid6584001 \'85\'85\'85.}{\fs24\insrsid13723511\charrsid6584001 day of}{\fs24\insrsid6584001 \'85\'85\'85..2005 }{\fs24\insrsid13723511\charrsid6584001 between AB son of}
{\fs24\insrsid6584001 }{\fs24\insrsid13723511\charrsid6584001 CD residing at}{\fs24\insrsid6584001 \'85\'85\'85}{\fs24\insrsid13723511\charrsid6584001 and EF residing at}{\fs24\insrsid6584001 \'85\'85..}{\fs24\insrsid13723511\charrsid6584001
(hereinafter called the CREDITORS which term shall include their successors and assigns) of the One Part and XY son of}{\fs24\insrsid6584001 \'85..}{\fs24\insrsid13723511\charrsid6584001 residing at}{\fs24\insrsid6584001 \'85\'85\'85\'85.}{
\fs24\insrsid13723511\charrsid6584001 (hereinafter called the debtor which term shall include his heirs successors and legal representatives of the Other Part.
\par Whereas the debtor was and still is indebted to each of the creditors, whose names, addresses and descriptions are given in the schedule hereto, in the several sums written opposite their names in the said schedule: and whereas
the creditors have agreed with the debtor to accept a composition of}{\fs24\insrsid6584001 \'85\'85\'85\'85}{\fs24\insrsid13723511\charrsid6584001 in the rupee in full satisfaction and discharge of their respective
claims and to forego, release and discharge the balance on terms and conditions hereinafter appearing. Now this deed witnesses that in consideration of the mutual benefits between the parties under the scheme
of composition as to payments of their respective dues the said creditors do and each of them doth hereby release and discharge the debtor and his heirs, executors, administrators and representatives from all their debts
and claims other than the portion payable under the deed of composition on condition that the debtor shall pay or cause to be paid to each of the CREDITORS on or before the}{\fs24\insrsid6584001 \'85\'85\'85\'85..}{\fs24\insrsid13723511\charrsid6584001
day of}{\fs24\insrsid6584001 \'85\'85\'85\'85}{\fs24\insrsid13723511\charrsid6584001 a composition of}{\fs24\insrsid6584001 \'85\'85\'85.}{\fs24\insrsid13723511\charrsid6584001 in the rupee on their debts:
\par
\par Provided, however, and, it is hereby agreed that notwithstanding anything hereinbefore stated, this release shall stand ipso facto void and be of no effect, if the said payments or any one of them be not made on or
before the above stipulated date or dates or if the DEBTOR be adjudged an insolvent before the said date of payment, provided also that this release shall be without prejudice to the right of the creditors to proceed against
the sureties or guarantors or co-debtors of the debtor for their debts specified in the schedule hereto.
\par
\par The creditors hereby agree with the debtor that this release shall be effectual and binding on them, although some creditors other than those who have executed this deed do not agree with the scheme of composition and are
not willing to give up their right to realize in full their debts or claims.
\par It is hereby declared that the amount or value of the claims hereby\line renounced is Rs}{\fs24\insrsid6584001 \'85\'85\'85\'85\'85\'85\'85..}{\fs24\insrsid13723511\charrsid6584001
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid6584001 {\fs24\insrsid13723511\charrsid6584001 The Schedule above referred to
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid6584001 {\fs24\insrsid13723511\charrsid6584001
\par In witness whereof the parties herein have executed these presents on the day, month and year first above-written.
\par Signed, sealed and delivered by AB, }{\fs24\insrsid6584001
\par }{\fs24\insrsid13723511\charrsid6584001 CD, EF the creditors in the presence of:
\par }{\fs24\insrsid6584001
\par S}{\fs24\insrsid13723511\charrsid6584001 igned, sealed and delivered by XY }{\fs24\insrsid6584001
\par }{\fs24\insrsid13723511\charrsid6584001 the debtor in the presence of:
\par
\par }}